Milton Friedman Predicted Cryptocurrency In The 90'S!!!! (Nobel Prize economics)

[Low Sigma]

This is very interesting. So he was explaining cryptos in the 90's !
I bet that the founder of Bitcoin, was inspired by Milton Friedman !!  

Here is the video:

https://www.youtube.com/watch?v=pK_xv_4KpzM

PS: This makes me think that Bitcoin is not such a bubble anymore, but something to stay long term!


Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetaryhistory and theory, and the complexity of stabilization policy with George Stigler and others.

Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward.Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists.

[Nubitcoinerr]

It's interesting. But he definitely didn't predict cryptocurrency. All he's saying is that the internet makes it possible to exchange things without the knowledge of the government.

[Low Sigma]

Yes you are right about the government but he went further and said:

1. The one thing that is missing but that will soon will be developed is a reliable e-cash, a method on the internet where you can transfer funds from A to B without A knowing B or B knowing A.

2. The way in which I can take a $20 bill and hand it over to you and there’s no record of where it came from and you may get that without knowing who I am.
That kind of thing will develop on the internet and that will make it even easier for people to use the internet.

3. Of course it has its negative side, it means that the gangsters… the people who are engaged in illegal transactions will also have a easier way to carry on their business.


For me it sounds like a cryptocurrency:
1. you can transact a coin from a random looking address to another one.
2. that was achieved with the help of zero knowledge protocol.
3. it's obvious.

Of course he didn't used keywords like cryptography, blockchain or something like this but he basically described a cryptocurrency.